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Marissa's Group
In this Group: Marissa, Anselma, Gerlie, Venus, Judy, Zenaida, Maribeth, Mayda
Marissa B. is from the village of Sonquil, Sta. Barbara, Pangasinan. She is 35 years old and is the group leader of an 8-member group loan offered by ASKI. While each member of the group receives an individual loan, they are all collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. The official name of this borrowing group is Marissa B. Group.

Marissa is married and has 3 school-aged children. To make a living, Marissa owns and operates a business venture in the food sector, operating a butcher shop in the market. While not the only means for generating revenue, the main source of income for the business comes primarily from butchering and selling a variety of meats in the market. Marissa has been engaged in her business for over 1 year and earns approximately 6000 PHP a month for these activities.

In 2008, Marissa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marissa has successfully repaid a previous loan of 15000 PHP from ASKI. This previous loan was used to to purchase additional products to sell. Marissa is now requesting a new loan of 20000 PHP which will be used to purchase additional inventory and working capital. This loan will be the fourth loan taken out by Marissa from ASKI. She plans to use the additional revenue generated from the business to financially support immediate members of her family.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has 25 branches covering the Central and Northeastern areas. Its clients are mostly farmers, fisherfolks and small entrepreneurs.

*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

Additional Information

About Alalay sa Kaunlaran, Inc.

This loan is made possible by Alalay sa Kaunlaran, Inc. (ASKI), which means “a partner in development.” ASKI has been in operation for 25 years and runs multiple successful initiatives in addition to microlending. Its main microfinance branch focuses on lending to microentrepreneurs, small farmers, and fisher folk. ASKI also provides microinsurance and marketing support for borrowers, as well as educational programs to develop the skills of both borrowers and staff. The ASKI Foundation funds community development projects such as a daycare feeding program and scholarships for children. ASKI Global helps overseas Filipinos develop entrepreneurial and financial skills to maximize the impact of remittances.

ASKI’s motto is “Together, let’s make things happen!” Join ASKI's Kiva Lending Team or view its website.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Philippines

  • $1175
    Average annual income
  • 979
    View loans »
    Philippines Loans Fundraising
  • $54,483,000
    Funds lent in using Kiva
  • 45.8
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Marissa's Group's $2,675 loan helped a member to purchase additional inventory and working capital.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 3, 2010
Listed
Apr 1, 2010
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2010